General News
DeepSeek’s Rise Causes Historic $589Bn Loss for Nvidia
US tech giant Nvidia saw its stock plummet nearly 17% on Monday, leading a sell-off across AI-related stocks after the Chinese AI chatbot DeepSeek gained sudden prominence. Nvidia’s market value dropped by $589 billion in a single day, marking the largest one-day loss in stock market history.
DeepSeek, a Chinese-developed AI model, launched its latest version, DeepSeek-R1, on January 20. The app has since become the most downloaded free app in the US. Developed at a fraction of the cost of its American counterparts, the emergence of DeepSeek has raised concerns about the future of AI investments and the dominance of US firms.
DeepSeek’s researchers claim the model was trained at a cost of just $6 million—significantly less than the estimated $100 million required to train OpenAI’s GPT-4. “If DeepSeek’s innovations are adopted broadly, training costs could come down significantly,” said Raymond James analyst Srini Pajjuri, though he cautioned that this may accelerate efforts by US firms to leverage their access to advanced chips to maintain a competitive edge.
Marc Andreessen, a Silicon Valley venture capitalist and adviser to President Donald Trump, called DeepSeek-R1 “AI’s Sputnik moment,” referencing the shock caused by the Soviet Union’s 1957 satellite launch.
The ripple effects of DeepSeek’s rise were evident across the tech sector. Nvidia’s rival Broadcom saw its stock tumble 17.4%, while Micron fell 12% and Advanced Micro Devices dropped more than 6%. Major tech players like Microsoft and Alphabet, Google’s parent company, also experienced declines of 2.14% and over 4%, respectively.
In Europe, Dutch chip equipment maker ASML ended Monday with a 7% drop in share price, while Siemens Energy, which produces AI-related hardware, saw a staggering 20% decline.
DeepSeek’s sudden popularity has sparked debates about the efficiency of AI models and their implications for the industry. Singapore-based tech equity adviser Vey-Sern Ling suggested that the app’s emergence “could potentially derail the investment case for the entire AI supply chain.”
However, some analysts remain skeptical of DeepSeek’s cost claims. Stacy Rasgon, an analyst at Bernstein, pointed out that the reported $6 million training cost likely does not account for associated expenses like prior research and algorithm development. “This announcement is not really worthy of the hysteria that has taken over the Twitterverse,” Rasgon added.
Meanwhile, Nvidia issued a statement describing DeepSeek-R1 as “an excellent AI advancement” but appeared unfazed by the competition.
DeepSeek’s launch comes at a time of heightened restrictions on the export of advanced US chip technology to China, further complicating the AI landscape. Former President Joe Biden’s administration had tightened these rules, limiting China’s access to Nvidia chips and advanced chipmaking technology.
Despite these challenges, Chinese developers like DeepSeek have found ways to innovate, using open-source software and exploring lower-cost approaches to AI. Liang Wenfeng, DeepSeek’s founder, reportedly built up a stockpile of Nvidia A100 chips before the US imposed export restrictions. Liang combined these chips with less advanced ones to train his model cost-effectively.
The timing of DeepSeek’s rise coincides with a major US push to bolster its own AI infrastructure. Last week, President Trump announced the Stargate AI project, which involves an immediate $100 billion investment in data centers and infrastructure, with plans to allocate an additional $400 billion over the next four years.
The initiative aims to secure America’s dominance in the AI space, with backing from SoftBank, Oracle, OpenAI, and UAE-based MGX.
As the AI sector grapples with DeepSeek’s disruptive potential, the company revealed on Monday that it had been targeted by cyberattacks.
“Due to large-scale malicious attacks on DeepSeek’s services, we are temporarily limiting registrations to ensure continued service,” the company said in a statement.
DeepSeek, founded in 2023 by Liang Wenfeng in Hangzhou, China, continues to challenge the industry with its low-cost AI model.
However, questions remain about the long-term implications of its innovations and whether Chinese AI firms can sustain their progress amidst US export restrictions.
In commemoration of Women’s Month, health-tech platform Myitura has released a new white paper addressing the critical gaps in healthcare financing for women in Nigeria.
Titled “Closing the Gap: Healthcare Financing for Women in Nigeria,” the report highlights how high out-of-pocket costs, limited insurance coverage, and socio-economic factors continue to prevent women from accessing timely healthcare.
According to the report, over 70% of healthcare expenses in Nigeria are paid out-of-pocket, disproportionately affecting women who often delay care due to financial and social constraints.
“When women can afford to take care of their health early, we don’t just save lives; we strengthen families, communities, and the economy,” said Chialuka Kelechi, MyItura’s Chief of Staff.
Key Insights from the White Paper:
- Preventable conditions often escalate due to delayed care
- Women are more likely to deprioritize their own health
- Affordable, structured healthcare financing can significantly improve outcomes
Introducing a Women’s Health Initiative
As part of its commitment, Myitura is launching affordable women-focused health packages (powered by Mediloan), starting at ₦58,180, designed to encourage preventive care and early detection.
The package provides access to:
- Fasting/Random Blood Sugar
- Urinalysis
- Electrolytes
- Urea
- Creatinine
- Pap Smear Submitted slides
- HIV I & II Rapid (Qualitative)
- Hepatitis B Surface Antigen Screening (Rapid)
- Hepatitis C Virus Screening (Rapid)
- Abdominopelvic Ultrasound
- Ongoing support via the Myitura platform
Access:
Women can access these packages by downloading the Myitura app, which makes healthcare more accessible and convenient.
Myitura is a health-tech platform focused on improving access to healthcare through financing, technology, and preventive care solutions.
General News
DBI Unveils Nigeria Digital Economy Outlook 2026: Q1 Report Highlights Strategic Trends, Risks
DigitalSENSE Business Intelligence (DBI), powered by ITREALMS Media, has launched the Nigeria Digital Economy Outlook 2026: Q1 Intelligence Report (Executive Edition), delivering vital insights for navigating Nigeria’s fast-paced digital landscape.
This executive summary spotlights trends, risks, and opportunities in telecommunications, fintech, digital infrastructure, policy shifts, and investment flows. It underscores digital transformation’s pivotal role in boosting economic growth, financial inclusion, and nationwide innovation.
DBI Publisher, Ogbuefi Remmy Nweke, emphasized its value for leaders: “This Executive Edition offers a sharp, strategic view of Nigeria’s digital economy during a pivotal moment. As the sector surges ahead, reliable intelligence is key to seizing opportunities and tackling risks.”
Key highlights include:
Broadband infrastructure expansion.
Surge in digital payments adoption.
Evolving regulations.
Investor pivot to sustainable, profitable ventures.
The report urges action on digital financial inclusion, infrastructure funding, skills training, and public sector digitization.
Freely accessible, the Executive Edition complements the premium Full Edition with in-depth analysis for executives and institutions. Stakeholders can request full access or briefings.
Media & Access Contacts:
Email: [email protected]
Website: www.itrealms.com.ng
The on-going construction works at the National Agency for Science and Engineering Infrastructure, NASENI’s Renewable Energy Industrial Park, Gora, Nasarawa State is gathering momentum as the project is envisioned to address the country’s energy needs.
NASENI’s Renewable Energy Industrial Park, Gora, Nasarawa State
The project occupying a 40-hectare park designed as a multi-energy hub will help curb capital flight and save foreign exchange expenditure by enabling local production of key renewable energy components such as solar panels, mounting racks, wind systems and biomass technologies.
Speaking during an inspection visit on the project site on Tuesday, March 31, 2026, Special Adviser to the Executive Vice Chairman on Renewable Energy, Engr. Suyud Abdullahi Muhammad, who also serves as the Gora Project Manager, disclosed that the initiative is designed to significantly reduce Nigeria’s dependence on imported renewable energy equipment.
“There will be a wind assembly plant, small hydro power equipment production, and solar panel manufacturing; Renewable energy goes beyond just solar, and this park reflects that broader vision,” he said.
Abdullahi noted that the project aligns with NASENI’s goal of reducing energy poverty in Nigeria, where over 80 million citizens remain off-grid, while many connected to the national grid continue to experience inadequate power supply.
The Special Adviser also emphasised on the project’s industrialisation potential, highlighting its role in job creation and value chain development. The park is expected to generate 2,000 direct jobs, with an additional 50,000 indirect employment opportunities across supporting industries when completed.
“This initiative will localise the renewable energy value chain. Instead of relying on imports, Nigeria will begin to produce and eventually export these technologies, starting with the West African market and scaling up to the rest of the continent,” he added.
On sustainability and long-term viability, he revealed that the project is being executed in collaboration with private sector players, academia and other stakeholders, in line with NASENI’s “3Cs” principle of Creation, Collaboration and Commercialisation.
The ongoing construction is being handled by about 35 contracting firms, each handling specific components at varying levels of execution such as Multipurpose Halls for industrial productions, Research and Development (R&D) Centre, Knowledge Park, Energy Centre, Workshops, Researchers Lodge, Studio Apartments, Clinic, Restaurant, Wellness Centre, Solar Farm, Drivers Lounge, Gate House, Internal roads and drainage system and Fencing.
The Gora Renewable Energy Industrial Energy Park is considered a key component of the Federal Government’s Renewed Hope Agenda, aimed at strengthening local manufacturing, enhancing energy security and positioning Nigeria as a renewable energy hub in Africa.
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